At 100 years old, the world’s oldest billionaire would be forgiven for taking it easy and enjoying the riches of his eight-decade career.

But for Chang Yun Chung, founder of Pacific International Lines (PIL), staying at home isn’t an option. Despite handing over the role of executive chairman to his son, Teo Siong Seng, earlier this year, the centenarian Singaporean insists on going into the office every day.

For almost two decades, Asian governments have been very vocal in their desire to get involved in the African continent. Bilateral forums, conferences, meetings and seminars happen more often than one can count, and usually result in numerous announcements – ranging from memoranda of understanding (MoU) to billions of financial commitments.

Africa Rising will lift Singapore boats tooSep 12, 2018

IF THERE is one thing that the recent Africa Singapore Business Forum (ASBF) reminded me of, it is what a polarising prospect the continent remains.

The global business community – Singapore included – has long seemed divided into two main camps: companies that have committed to Africa, and those still labelling it “too hard”, ie, too complex to prioritise. But at the ASBF, I detected a different sentiment – a re-imagining of the prospects for some, and one that underscores Singapore’s position as an international business leader.

Graduating from political to economic independenceAug 20, 2018

Wilmar's Q2 net profit surges 437%Aug 14, 2018

Agribusiness group Wilmar International has posted a more than four-time increase in its net profit for the second quarter ended June 30.

Net profit soared to US$316.4 million (S$435 million) from US$59 million, lifted by stronger performances from the oilseeds and grains as well as the tropical oils segments, coupled with better contributions from associates.

What African SWFs can learn from Asian counterpartsAug 06, 2018

Asian sovereign wealth funds (SWFs) have played an important role as engines of development and economic growth in the past 50 years. In 1965, Singapore’s GDP per capita was just $500, on par with that of Mexico and South Africa. In 2017, this figure had increased more than 100-fold, reaching $56,000. One of the important factors contributing to the Singapore growth story, is the savvy use of limited government resources, namely through the creation of efficient investment vehicles geared towards the nation’s industrial policy and economic development objectives.

As Africa’s own SWF journey evolves, I believe the examples set by Asian countries such as Singapore and Malaysia should serve as an inspiration for reform. Compared to the rest of the world, Africa’s SWFs are fairly young. Collectively, Africa’s SWFs have assets under management (AUM) exceeding $160bn. Apart from Botswana’s Pula Fund, founded in 1994, all of them were created in the 21st century. But they are growing in popularity. Their numbers are estimated to reach 20 in the next three years, up from 12 today. The latest addition is Egypt, with a $11bn SWF.

The African Export-Import Bank (Afreximbank) entered into a cooperation with Aenergy to develop a low carbon sustainable economy and a climate finance strategy to support projects and national initiatives in the sector across Africa.

Off the back of the signing of the African Continental Free Trade Area (AfCFTA), Global Trade Review (GTR) caught up with African Export-Import Bank (Afreximbank) president Benedict Oramah to discuss initiatives that the bank will soon be launching, and to hear his views on how best to address Africa’s trade finance gap.

Expanding the Shipping Trade in AfricaMay 14, 2018

AfDB and Afreximbank earmark $20 billion for establishment of leasing company and MRO facilityMay 11, 2018

African Development Bank (AfDB) and African Export, Import Bank (Afreximbank) have agreed to raise capital base of about $20 billion for the actualisation of federal government’s plan to establish aircraft leasing company and Maintenance, Repair and Overhaul (MRO) facility.

Olam International Ltd., one of the world’s largest food traders, is considering expanding into fish farming in Africa to tap demand from a growing and more affluent population.

The Singapore-based firm is conducting a feasibility study on farming fish in West Africa, likely in Nigeria, the continent’s most populated country, Chief Operating Officer Shekhar Anantharaman said. Olam could potentially start the venture with partner and shareholder Mitsubishi Corp., which owns fish businesses, he said.

PIL Moves to "B-Division" StatusMar 16, 2017

As Pacific International Lines (PIL) celebrates its 50th anniversary, it is progressing to a “B-division” status in the international shipping sector, looking to extend capacity to 500,000 containers by the end of next year.

Radio France Internationale Africans are Moving!Sep 14, 2015

The Chairman of the Advisory board of the Africa South East Asia Chamber of Commerce (ASEACC), Mr. Paulo Gomes, has been appointed as a Distinguished Visiting Fellow for the NTU – SBF Centre for African Studies.

Paulo Gomes - Bridging Southeast Asia and AfricaJan, 2015

Focus on Oil and GasSep 25, 2014

Last year Africa South East Asia Chamber of Commerce put together a special report presenting a comprehensive overview of oil and gas sector in Africa, Asian engagement and the opportunities the sector continues to present. Despite the fall in the price of oil, the sector is still full of promise.

ASEACC: Building Business ChampionsSep 20, 2014

Channel News Asia: ASEACC Official LaunchNov 18, 2013

The Africa South East Asia Chamber of Commerce (ASEACC) was officially launched in Singapore on 18 November, 2013 by a group of 13 companies from both the African and South East Asian Regions. More than forty top companies and representatives from business chambers and the government attended the launch ceremony, graced by Senior Minister of State for Trade & Industry and National Development, Lee Yi Shyan. The event received media coverage in the national newspapers, as well as during prime time television.